RI Expects more Investments from Japan, says Minister

Trade Minister Rachmat Gobel has said the Indonesian government is striving to secure more investments from Japan that are in line with the countrya��s development programs over the next five years.

a�?Ia��m visiting Japan to hold dialogues with businesspeople and leaders of companies that have invested in Indonesia, seeking opportunities on how they can increase their investments in Indonesia,a�? Rachmat said as quoted by Antara news agency on the sidelines of his visit in Japan on Sunday.

The minister said expanding Japanese investment projects that could hopefully add value to Indonesian products was a prime purpose of his visit to Japan.

Rachmat said it was hoped that increased Japanese investments could help the Trade Ministrya��s plan to increase non-oil and gas exports by 300 percent in the next five years.

a�?We will discuss President Joko Widodoa��s vision and how Indonesian-Japanese investment partnerships in the future will go in line with our governmenta��s plans on food and maritime sovereignty and infrastructure development,a�? he said.

During his visit, Rachmat is scheduled to meet with Japanese Prime Minister Shinzo Abe and Economic, Trade and Investment Minister Yoichi Miyazawa to discuss various issues in the field of trade.

The minister is also scheduled to hold meetings with leaders from big Japanese companies that have invested in Indonesia, such as Toyota, Mitsui, Itochu, Honda and Epson.

Rachmat said Toyota had so far made Indonesia its production base, but the question of how the company could increase its investments, especially to strengthen Indonesiaa��s domestic industrial structure, remained to be answered.

a�?I am optimistic over Japan, since for the past 56 years of our relationship it has shown its consistency with investments,a�? he said.

According to Coordinating Investment Board (BKPM) data, the amount of foreign investment in Indonesia from January to September 2014 reached US$21.7 billion.

Japan still ranked second in the country with total investments reaching $2.0 billion. Singapore was at top of list with total investments amounting to $4.9 billion.

In 2013, the amount of realized Japanese investment was recorded at $3.6 billion or 17.2 percent of total foreign investment, which was above that of Singaporea��s total of $3.2 billion.